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MAS says it is committed to developing Islamic financial services in Singapore

Posted on 04 April 2013

Singapore’s central bank said it remains committed to developing Islamic financial services in Singapore. Commenting about the lapse of two tax incentives for Islamic finance recently, Assistant Managing Director of the Monetary Authority of Singapore (MAS), Ng Nam Sin, said this was “no reflection of MAS’ continuing commitment to develop Islamic financial services in Singapore.”
“Like all our tax incentives, they have a fixed tenure and in this case, of five years. It is useful to note that Islamic finance activities will continue to be incentivized alongside conventional finance activities under our other existing schemes,” said Mr Ng………………………………………..Full Article: Source

 
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